Word: loan
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Dates: during 1920-1929
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...Secretary of the Treasury, particularly, "the greatest Secretary of the Treasury since Alexander Hamilton, cannot afford to indulge in wishful thinking. Financiers were inclined, last week, to be instructed, rather than startled by what financial writers called Secretary Mellon's "bold" plan for refinancing the Third Liberty Loan which matures in September. With the money market hitting its highest since 1920 Secretary Mellon offered to exchange 3⅛% bonds for the 4¼% Third Liberty Bonds, which mature in September. He gave the new bonds a life of 12 to 15 years. Like most Government securities, they were only...
...Federal loan fund...
...took office 23 months ago, the franc had lost 9/10 of its pre-War value (5 francs to $1). By soundest generalship, some retrenchments, and chiefly by the sheer confidence-inspiring power of his personality, M. Poincare caused the franc to double in value without resorting to a foreign loan (TIME, January 3, 1927). That value has been kept stable de facto for 18 months; and now it becomes the approximate stabilized value de jure. For the present, paper francs will be exchangeable for gold bullion and only in relatively large blocs. This will be followed by a new gold...
Purposes of the loan: 1) Refunding of previous 5, 5½^ and 6^½ issues; 2) Road building; and 3) "Paying certain expenses of the party in power during the coming election"-according to indignant charges made, last week, by the opposition party of onetime President Dr. Belisario Porras...
However, although liquorish Colombian revenues have been curtailed, the non-liquorish revenues pledged to repay the loan in question still offer "good security...